What I found in a drawer

[Camellia]

A gold Krugerrand! I don't remember how it got there, but best guess is my inlaws stuck it in there one day. It's shiny and pretty, but I don't want to keep it. So, does anyone have a opinion as to when and how I should sell it? Ie., will gold prices skyrocket or plummet soon?

I have no need for extra cash right now, it would just go into the emergency fund.

 

[Nemo2]

This link is slanted more towards buying than selling, but you might find it somewhat informative anyway:

How Much is a Krugerrand Worth? | Gold Krugerrand Ferret

 

[marko]

I had a lot of silver ingots I had inherited. ( A lot!)

I brought them to a few coin shops that buy such items. One guy offered me 10 cents on the dollar. The second guy was right on the money for full price of silver for that day.

You just need to know the price of what it could/should sell for. Cave Venditor!

 

[joeea]

Ie., will gold prices skyrocket or plummet soon?

Probably not.

 

[Camellia]

Probably not.

haha, it will zoom up right after I cash the check!

 

[joeea]

haha, it will zoom up right after I cash the check!

We can both be correct - assuming you don't cash the check soon.

 

[sengsational]

Nothing wrong with holding on to it, but presuming you want to sell it, just get a price on kitco.com for it (or apmex, etc), then call around coin shops and see how close they'll get to that price. You could also sell to kitco, but that involves mailing, insuring, etc. For one coin, it's probably better to just do a walk-in.

 

[DrRoy]

When DW worked as a bank teller, she occasionally came across some silver coin, which she exchanged and brought home.

 

[athena53]

My Dad invested in Krugerrands a long time ago. I don't think he made much money on them; he eventually sold all but one half-Krugerrand coin, which I now have- it's in a pendant I inherited from my mother.

 

[Camellia]

Nothing wrong with holding on to it, but presuming you want to sell it, just get a price on kitco.com for it (or apmex, etc), then call around coin shops and see how close they'll get to that price. You could also sell to kitco, but that involves mailing, insuring, etc. For one coin, it's probably better to just do a walk-in.

I hadn’t thought of that, that makes sense thanks.

 

[brucethebroker]

I agree with the coin shop suggestion. Call a half dozen, tell them what you have and they can give a price over the phone without seeing the coin. It is not a rare collector coin, so it should sell within a few percentage points under the gold spot price based upon the weight of the coin-and dealers will know what that is.

 

[Sunset]

That is an amazing find, I usually only find a paper clip in my drawers...

I had to look, and selling it is worth: USD $1,312.00 ea. , Buying is USD $1,338.00 ea.

So the spread is ~2%

 

[Bryan Barnfellow]

Why not just keep it, thus adding some diversity to your asset base?

-BB

 

[GravitySucks]

Keep it.
It's just about enough to bribe a border guard in a time of need.

 

[vince]

You could try https://www.goldeneaglecoin.com/
I've bought silver and gold there, but never sold any. They are advertising they will pay about $1298 and ounce.

 

[Camellia]

Wow, found a coin shop with great reviews 2 blocks from my house. I should check with the inlaws to see if they wanted to keep it for some reason, but otherwise yes, it’s the best thing I have found in a drawer in a long time.

 

[Sunset]

Wow, found a coin shop with great reviews 2 blocks from my house. I should check with the inlaws to see if they wanted to keep it for some reason, but otherwise yes, it’s the best thing I have found in a drawer in a long time.

At least you now know what it is worth, so the shop should be really close to that number.